Shares of mineral explorer S2 Resources (ASX:S2R) have risen as much as 11.8% to A$0.190, reaching their highest level since the first of August.

If the gains hold, this could mark the company’s best day since the end of July.

The company announced that its unit has been granted an exploration license for Greater Fosterville from the Victorian Government.

The license encompasses block 4 of the North Central Victoria Gold ground release.

Additionally, these sites have received heritage clearance granted approval by traditional owners.

Throughout the day, 4.5 million shares have changed hands, in comparison to the 30-day average volume of 223,190.

Including the day’s gains thus far, the stock is up 15.2% year to date.

S2 Resources (ASX:S2R) is a mineral exploration company with a specific focus on gold and base metals.